Our April 2014 newsletter includes:
- The brief, and accompanying webinar, from AFN and Citi Foundation, The Power of Credit Building; Strategies for Funders, demonstrates successful credit building programs and shares examples on how to integrate credit building into funding strategies that will result in better outcomes and return on investment
- An article, Six Tax Reforms to Increase Economic Security for All, by Heather McCulloch, Manager of the AFN Tax Policy Project, highlights how tax reforms can create an America that lives up to its promise of opportunity for all
- A report, from Clancy and Sherraden, Automatic Deposits for All at Birth, outlining Maine’s new universal strategy and describing the benefits of universal child development accounts
- and of course a letter from Joe Antolin, AFN Executive Director
FROM THE DIRECTOR
The Power of Credit – A Needed Intervention
From the desk of AFN Director, Joe Antolin
Addressing after tax income and wages as components of asset building to address the wealth gap is getting increased attention. The solutions that can change the status quo range from integrating intentional credit building into human services and education, rethinking tax policy expenditures, raising the minimum wage, and philanthropic support to scale proven strategies.
This issue kicks-off with AFN’s newly released funders brief and webinar, The Power of Credit Building providing impactful strategies to effectively turn around the reality that low to moderate income households too often pay a penalty. In fact, Housing, Education, Workforce, and Refugee Resettlement outcomes all suffer from burdens imposed by the reliance on credit scores to determine the cost and access to the rental unit, the loan, the job, or the opportunity to participate in the economy.
The Power of Credit Building shares high impact funding strategies that inform and guide grantmakers in helping shift non-profit agencies and services to integrate and harness the power of credit to directly improve the economic opportunities and desired outcomes for individuals, families, and microbusinesses.
AFN is pleased to continue providing funders with the latest information demonstrated to help improve the outcomes for low-income individuals and families. In May, AFN will releaseFinancial Coaching, An Asset Building Strategy – what it is, why it works and the results we’re seeing.
Also check the update below on the progress AFN’s Tax Policy Project is making. Join the effort by understanding and helping to educate others about tax policy reform and the difference in wealth building for low and moderate income households reform represents.
Join AFN and as an active member partner partner with your peers to learn and help define future best practices to achieve greater impact!
Joseph A. Antolín
Asset Funders Network